Question

Question:5

1. What is meant by the standard error of the mean?
2. What is meant by a Type I and a Type II error?
3. What is the difference between a one and two tail test?

4. In September 2019, a Travel Agent used a random sample of 36 holiday makers to find out the average cost per person of a one week holiday in Queen Elizabeth National Park. The following information was found:

September 2019

          Mean                       $372.40

         Standard deviation $26.10

         Sample size 36

In the previous year the average cost of each holiday was $356.20.

1. Test whether the cost of a one week holiday to Queen Elizabeth National Park has increased significantly since the previous year.
2. The company based its views on customer satisfaction from the letters it receives. In the previous year, 68% of the letters it received were of a positive nature.

The company wishes to adopt a more scientific approach to estimating customer satisfaction.

What sample size would be needed to estimate the proportion of customers’ views to within 2% of the true figure at the 95% confidence limit and Interval                                  

Answer 1